Evergrande Property Services Group Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Evergrande Property Services Group Ltd stock after losing 0%
(Updated on Jun 26, 2024)
No changes to the price of Evergrande Property Services Group Ltd stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 4.23% from a day low at HK$0.710 to a day high of HK$0.740. The price has fallen in 6 of the last 10 days and is down by -6.58% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.698 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 43.80% during the next 3 months and, with a 90% probability hold a price between HK$1.00 and HK$1.48 at the end of this 3-month period.
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6666.HK Signals & Forecast
The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Evergrande Property Services Group Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.720 and HK$0.751. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -21.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Evergrande Property Services Group Ltd stock
Evergrande Property Services Group Ltd finds support from accumulated volume at HK$0.680 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0300 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 7.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6666.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Evergrande Property Services Group Limited to open at HK$0.720, and during the day (based on 14 day Average True Range), to move between HK$0.659 and HK$0.761, which gives a possible trading interval of +/-HK$0.0511 (+/-7.19%) up or down from last closing price. If Evergrande Property Services Group Limited takes out the full calculated possible swing range there will be an estimated 14.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.680 (4.23%) than the resistance at HK$0.740 (4.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Evergrande Property Services Group Limited stock A Buy?
The Evergrande Property Services Group Ltd stock holds several negative signals and despite the positive trend, we believe Evergrande Property Services Group Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.458 Sell Candidate Unchanged
Predicted Opening Price for Evergrande Property Services Group Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.720 ( 1.41%) | HK$0.710 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6666.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.750 | 5.63% |
| R2 | 0.739 | 4.02% |
| R1 | 0.731 | 3.02% |
| Price | 0.710 | |
| S1 | 0.709 | -0.206% |
| S2 | 0.701 | -1.20% |
| S3 | 0.690 | -2.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.87 | 22.54% |
| R2 | 0.84 | 18.31% |
| R1 | 0.740 | 4.23% |
| Price | 0.710 | |
| S1 | 0.680 | -4.23% |
| S2 | 0.670 | -5.63% |
| S3 | 0.630 | -11.27% |
FAQ
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